Haven Private LLC Cuts Stake in SEI Investments Company (NASDAQ:SEIC)

Key Points

• Haven Private LLC decreased its stake in SEI Investments Company by 53.3% during the first quarter, now holding 2,878 shares valued at approximately $223,000.
• CEO Ryan Hicke sold 21,000 shares for about $1.75 million, reducing his ownership by nearly 11% to 171,260 shares.
• SEI Investments recently announced a quarterly dividend increase from $0.46 to $0.49 per share, resulting in a dividend yield of 2.3%.

Haven Private LLC decreased its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 53.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,878 shares of the asset manager's stock after selling 3,283 shares during the quarter. Haven Private LLC's holdings in SEI Investments were worth $223,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Banco Santander S.A. boosted its stake in shares of SEI Investments by 158.5% during the 1st quarter. Banco Santander S.A. now owns 107,467 shares of the asset manager's stock worth $8,343,000 after purchasing an additional 65,897 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its position in shares of SEI Investments by 11.6% during the first quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 9,600 shares of the asset manager's stock worth $745,000 after buying an additional 1,000 shares in the last quarter. US Bancorp DE grew its position in shares of SEI Investments by 0.7% during the first quarter. US Bancorp DE now owns 36,771 shares of the asset manager's stock worth $2,855,000 after buying an additional 262 shares in the last quarter. Bayforest Capital Ltd boosted its holdings in SEI Investments by 166.8% in the first quarter. Bayforest Capital Ltd now owns 10,021 shares of the asset manager's stock worth $778,000 after purchasing an additional 6,265 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in SEI Investments by 18.0% in the first quarter. Federated Hermes Inc. now owns 10,854 shares of the asset manager's stock worth $843,000 after purchasing an additional 1,657 shares during the period. Hedge funds and other institutional investors own 70.59% of the company's stock.

SEI Investments Stock Performance

NASDAQ:SEIC traded down $1.24 during mid-day trading on Thursday, hitting $86.97. The company had a trading volume of 103,800 shares, compared to its average volume of 864,080. The firm has a market cap of $10.75 billion, a P/E ratio of 16.32, a P/E/G ratio of 1.39 and a beta of 0.95. The business's fifty day moving average is $88.20 and its two-hundred day moving average is $82.21. SEI Investments Company has a fifty-two week low of $63.97 and a fifty-two week high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.60. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%. The firm had revenue of $559.60 million during the quarter, compared to the consensus estimate of $550.72 million. During the same period last year, the company earned $1.05 earnings per share. The business's revenue was up 7.8% compared to the same quarter last year. Equities analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, June 9th. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's dividend payout ratio is currently 18.39%.

Wall Street Analysts Forecast Growth

SEIC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $98.00 target price (down from $100.00) on shares of SEI Investments in a research note on Thursday, July 24th. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Oppenheimer boosted their price target on shares of SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Piper Sandler dropped their price target on SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research note on Thursday, July 24th. Finally, Raymond James Financial lifted their target price on SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $102.00.

Insider Activity

In other SEI Investments news, CEO Ryan Hicke sold 21,000 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.36, for a total value of $1,750,560.00. Following the completion of the transaction, the chief executive officer owned 171,260 shares of the company's stock, valued at $14,276,233.60. This represents a 10.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sanjay Sharma sold 20,000 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $83.40, for a total value of $1,668,000.00. Following the sale, the insider owned 23,895 shares in the company, valued at approximately $1,992,843. The trade was a 45.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 237,126 shares of company stock worth $20,082,409. 14.60% of the stock is owned by insiders.

SEI Investments Company Profile

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.